This EMPLOYMENT AGREEMENT (this Agreement) is made, entered into by and between Renovacor, Inc., a Delaware corporation (the Company), Matthew Killeen, PhD (the Executive), dated August 16, 2021.
WHEREAS, the Executive possesses certain experience and expertise that qualifies him to provide the direction and leadership required by the Company;
WHEREAS, the Company desires to employ the Executive as a senior executive of the Company and the Executive wishes to accept such employment;
WHEREAS, concurrently with the execution of this Agreement, the Executive has executed the Companys standard Proprietary Information and Inventions Agreement (the Inventions Agreement), and the Executive and the Company have executed the Companys standard Indemnity Agreement (the Indemnity Agreement).
NOW, THEREFORE, in consideration of the mutual covenants contained herein and intending to be legally bound hereby, the Company and the Executive agree as follows:
1. Position and Duties.
(a) Effective as of September 1, 2021 (the Effective Date), the Executive will become employed by the Company, on a full-time basis, as its Chief Scientific Officer, and will report to the Companys Chief Executive Officer, subject to the specific direction of the Companys Board of Directors (the Board).
(b) The Executive agrees to perform the duties of his position and such other duties as may reasonably be assigned to the Executive from time to time. The Executive also agrees that, while employed by the Company, he will devote his full business time and his best efforts, business judgment, skill and knowledge exclusively to the advancement of the business interests of the Company and its Affiliates and to the discharge of his duties and responsibilities for them, provided that nothing in this subsection (b) shall prevent the Executive from engaging in additional activities in connection with personal investments and community affairs, including, without limitation, serving on academic, industry, civic or charitable boards, so long as such activities do not, individually or in the aggregate, violate Section 3 of this Agreement, or materially interfere with the Executives duties under this Agreement.
(c) The Executive agrees that, while employed by the Company, he will comply with all Company policies, practices and procedures and all codes of ethics or business conduct applicable to his position, as in effect from time to time and provided to the Executive in writing.
(d) The Executive currently resides in California and will perform his duties hereunder remotely. The Executive will travel at the expense of the Company to Boston, Philadelphia and other business locations reasonably determined necessary or advisable by the Executive and the Board.